Rising pepper prices shadowed by looming US tariffs
VOV.VN - The pepper sector is facing growing challenges despite a surge in export prices, as the US is set to raise tariffs on Vietnamese pepper from the current 10% to between 25% and 30% in the third quarter, according to the Vietnam Pepper and Spice Association (VPSA).
In the first four months of 2025, the average export prices of both black and white pepper recorded sharp increases, pushing the sector’s total export value to over US$510 million, despite a drop in export volume. This indiates a strong upward trend in global pepper prices.
The US remained Vietnam’s largest pepper buyer, though its import volume registered a steep fall due to the impact of a temporary 10% tariff. In contrast, exports to other markets such as India, the UAE, and China saw notable growth, with China nearly doubling its imports year-on-year.
Industry insiders warn that the upcoming US tariff hike could erode Vietnam’s competitiveness, especially as exporters from Brazil and Indonesia continue to enjoy lower import duties in the US market.
To mitigate the impact, the Government has instructed the Ministry of Agriculture and Environment to work with other relevant agencies on support measures, including temporary procurement and storage to help farmers maintain stable incomes during harvest season. Ministries and localities have also been urged to closely monitor global trade developments and keep businesses informed in a timely and proactive manner.
Pepper exports to US reach record high in 2024
VOV.VN - The United States remained the largest consumer of Vietnamese pepper last year with 72,311 tonnes, accounting for 28.9% of total pepper export value and representing a sharp rise of 33.2% compared to 2023, according to the Vietnam Pepper and Spice Association.
